Gabelli Funds LLC Decreases Holdings in Brookfield Co. (NYSE:BN)

Gabelli Funds LLC decreased its holdings in Brookfield Co. (NYSE:BN) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,400 shares of the company’s stock after selling 800 shares during the quarter. Gabelli Funds LLC’s holdings in Brookfield were worth $2,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BN. Connectus Wealth LLC grew its stake in Brookfield by 1,049.1% during the 4th quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after purchasing an additional 557,749 shares during the last quarter. Fortis Group Advisors LLC lifted its stake in Brookfield by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares during the period. Blue Trust Inc. increased its stake in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after acquiring an additional 272 shares during the period. Kings Path Partners LLC acquired a new position in Brookfield during the second quarter valued at $31,000. Finally, Family Firm Inc. acquired a new position in Brookfield during the second quarter valued at $36,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BN. TD Securities lifted their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank raised their price objective on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.59.

Brookfield Stock Performance

NYSE BN opened at $52.25 on Thursday. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $53.20. The firm has a market capitalization of $85.96 billion, a P/E ratio of 85.66 and a beta of 1.53. The stock’s fifty day moving average is $47.81 and its two-hundred day moving average is $44.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. The firm had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. Brookfield’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. On average, research analysts anticipate that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.61%. Brookfield’s dividend payout ratio (DPR) is 52.46%.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.